CO2ScopeTM is a spreadsheet model for assessing the economic potential of applying CO2 Enhanced Oil Recovery techniques to an oil reservoir. The model utilizes the so-called “analog method” of projecting incremental oil and CO2 flows based on the scaled historical results of an existing or simulated project. Combining these estimated oil and CO2 flows with economic parameters, such as oil prices and project costs, allows the analyst to assess CO2-EOR profitability under various scenarios. The tool serves mainly as a preliminary screening tool in a multi-stage investment and development process. After screening oil reservoirs for the suitable CO2-EOR reservoir characteristics, a preliminary economic scoping of the unit can be conducted using CO2ScopeTM. The costs of these initial screening stages is relatively low compared to the more sophisticated analysis of later development stages.